Charles Winnick's questions to BankFinancial (BFIN) leadership • Q4 2023
Question
Argued that a sale of the bank would be the most beneficial path for shareholders, as the bank's efficiency ratio is too high and its returns are below the cost of capital. He asked for a credible plan to generate value superior to a potential sale.
Answer
The executive largely deflected the question, suggesting an offline conversation. He then defended the company's strategy, highlighting the dividend yield, improving credit quality, and a path toward achieving a $1/share run rate, a high-80s/low-90s ROA, and a double-digit ROE on a normalized capital base. He emphasized focusing on the future rather than the past.